Non Footy Chat Thread II

[I'm a loser baby...]

Radio said 55c yesterday.

 

[Bandwagon]

I read an article about if house prices fell what would happen. And it wasn't positive for just those with properties.
Unlike Germany a lot of investment houses are own by individuals hereunder not corporations. Prices drop and rent drops. That takes more money out of economy and less spending. It went into a lot of details. I do not remember it all but the general message was it wont benefit many people that may think it will.

The simple way of looking at it is that when people own an appreciating asset, they feel like they have some wealth and will spend, when that asset starts to depreciate, they feel their wealth dropping and reign in their spending.

Now in a consumer based economy such as ours, the last thing you want is people to stop spending.

 

[Bandwagon]

Radio said 55c yesterday.

Yeah I think we bottomed at around 58c in March, and we're now around 74c

 

[Poupou Escobar]

You wot mate?

How many surpluses / deficits do you think we've had since federation?

Here's a clue...........

https://www.firstlinks.com.au/budget-time-labor-v-liberal-fiscal-discipline

Now if you pay a little attention, you'll see net debt peaked after world war two at over 120% of GDP, yet by the time Whitlam came to power, we'd had two teeny pissant surpluses, and thirty odd deficits, yet somehow net debt had shrunk to around 10% of GDP.

You've got 120 odd f**king years of real world examples that this so called "unproven theory" you refer to works.

Is that not a big enough sample size so as to be relevant?



Um, well they do, and at pretty f**king awesome interest rates at the moment to boot.

And the reason they do, is because they're pretty damn certain they're gonna be paid. Amazing shit eh?

Mate, honestly, you've been sold a dud with this whole debt and deficit thing, it simply does not bear up to any real scrutiny.

I think from memory the ratio is 101:17 deficits:to surpluses since federation, it obviously isn't a problem for that to have been the case, why would that change?

The difference now is an ageing population with an increasing cohort of people that are worthless to the global economy.

 

[Poupou Escobar]

.

But gee, it's a f**king giant about face, and a decent sized shit sandwich to have to swallow.

It's because they're chasing votes, like any political party. The LNP used to be beholden to people who wanted reduced taxes as a priority. Now their base is increasingly people who want increased government spending on pensions and geriatric health care.

 

[strider]

The difference now is an ageing population with an increasing cohort of people that are worthless to the global economy.

Well thats why they invented the rona ffs

 

[Poupou Escobar]

f**king Soros!

 

[Barry O'Speedwagon]

The ABC have gone all 'Australia's Funniest Home Videos' with this very informative news article.

https://www.abc.net.au/news/2020-09-02/footage-of-a-worker-falling-off-a-ladder/12618964?nw=0

 

[Bandwagon]

It's because they're chasing votes, like any political party. The LNP used to be beholden to people who wanted reduced taxes as a priority. Now their base is increasingly people who want increased government spending on pensions and geriatric health care.

That's been their base for years. Hence pensioners are literally untouchable whilst the unemployed ( mostly the young ) can go f**k themselves.

The difference now is an ageing population with an increasing cohort of people that are worthless to the global economy.

Yeah nah.

The population has been ageing since like forever. The cohort is for sure getting larger, but they are also wealthier, and thus spend more.

You are only worthless to the global economy when you stop spending and producing.

 

[Gary Gutful]

Is now the time to invest in Bitcoin?

 

[Poupou Escobar]

That's been their base for years. Hence pensioners are literally untouchable whilst the unemployed ( mostly the young ) can go f**k themselves.



Yeah nah.

The population has been ageing since like forever. The cohort is for sure getting larger, but they are also wealthier, and thus spend more.

You are only worthless to the global economy when you stop spending and producing.

I'm not referring to the pensioners as the ones worthless to the global economy. I was talking about the ones whose dumb jobs are going overseas, and aren't smart enough for the smart jobs, and not presentable enough for service jobs.

 

[Eelogical]

That's been their base for years. Hence pensioners are literally untouchable whilst the unemployed ( mostly the young ) can go f**k themselves.

The unemployed young can go pick mangoes. Saves us the trouble of having to bring Pacific nation workers in to do what we should be doing ourselves.

 

[hindy111]

Is now the time to invest in Bitcoin?

How about investing in hindy111coin

 

[hindy111]

I'm not referring to the pensioners as the ones worthless to the global economy. I was talking about the ones whose dumb jobs are going overseas, and aren't smart enough for the smart jobs, and not presentable enough for service jobs.

Dumb jobs? That is harsh mate. Anyone who gets up amd goes to works job is important.

 

[Bandwagon]

I'm not referring to the pensioners as the ones worthless to the global economy. I was talking about the ones whose dumb jobs are going overseas, and aren't smart enough for the smart jobs, and not presentable enough for service jobs.

Well that's an entirely separate issue and has little to nothing to do with the discussion at hand.

How 'bout we go back to the example I provided, please explain where all these surpluses were that "paid back the debt" created by say, the period around WW2.

 

[Bandwagon]

The unemployed young can go pick mangoes. Saves us the trouble of having to bring Pacific nation workers in to do what we should be doing ourselves.

Yes, this is true, they should all uproot their lives for a few months of low paid employment thousands of miles away.

Back in my day, if i needed a job I'd carry my horse, Trevor Snr, ten thousand miles through six foot deep snow and across mountains and deserts to live in a cardboard box by the side of the road, just so i could get eaten alive by mosquitoes as i slept after a hard days work picking mangoes,

merkins are soft I tells ya.

 

[Bandwagon]

Dumb jobs? That is harsh mate. Anyone who gets up amd goes to works job is important.

Seemingly not important enough for those jobs to continue to exist.

 

[Bandwagon]

Is now the time to invest in Bitcoin?

Mmm, sure, if you have money that you can well afford to throw away. You might wanna look at US junk bonds instead, they're basically government guaranteed securities at the moment.

 

[hineyrulz]

Is now the time to invest in Bitcoin?

Silver.

 

[Hollywood Jesus]

The US has been doing it for over a decade though, and their economy has just been growing, and growing. Our dollar was turning to shit pre-covid, we were down to the low sixties against the USD from memory, and it's only been the last six months or so that it's corrected back to around it's historical norm.
.

Oh, sure, but the last 6 months have seen them go to, what, $7 trillion? And to keep that ponzi scheme going it has to be exponential growth, doesn't it?

And didn't Powell basically say yesterday that he doesn't care about inflation, now, as long as they are progressing towards "full employment"?

I just don't buy the MMT thing. Sooner or later that's gonna lead to inflation that will be really hard to reign in.